Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Lifted by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 62.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,916 shares of the semiconductor company’s stock after acquiring an additional 4,212 shares during the period. SpiderRock Advisors LLC’s holdings in Marvell Technology were worth $787,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MRVL. Atomi Financial Group Inc. grew its position in Marvell Technology by 8.1% during the first quarter. Atomi Financial Group Inc. now owns 4,380 shares of the semiconductor company’s stock valued at $310,000 after purchasing an additional 328 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Marvell Technology during the 1st quarter valued at $308,000. Sei Investments Co. increased its stake in shares of Marvell Technology by 4.0% in the first quarter. Sei Investments Co. now owns 542,916 shares of the semiconductor company’s stock worth $38,482,000 after acquiring an additional 21,128 shares during the last quarter. NorthRock Partners LLC raised its holdings in shares of Marvell Technology by 87.1% during the first quarter. NorthRock Partners LLC now owns 11,107 shares of the semiconductor company’s stock worth $787,000 after acquiring an additional 5,172 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Marvell Technology by 6.3% during the first quarter. Meeder Asset Management Inc. now owns 7,646 shares of the semiconductor company’s stock valued at $542,000 after purchasing an additional 452 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock valued at $20,330,835 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MRVL. Barclays raised their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark raised their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $93.80 on Monday. The company’s fifty day moving average is $76.88 and its two-hundred day moving average is $71.97. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The firm has a market capitalization of $83.13 billion, a price-to-earnings ratio of -84.50, a P/E/G ratio of 4.08 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio is currently -21.62%.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.